Lending, financing firms told to extend loan deadline

BW FILE PHOTO THE Securities and Exchange Commission (SEC) is ordering lending and financing companies to extend the deadline for loan payments amid the coronavirus disease 2019 (COVID-19) pandemic. The SEC issued a notice on Thursday to remind financing companies, lending companies and microfinance non-government organizations to implement a 30-day grace period for all loans, whether principal or interest, falling due within the enhanced community quarantine (ECQ) from March 17 to April 12. This is…

"Lending, financing firms told to extend loan deadline"

Companies continue to help communities, frontliners amid pandemic

Republic Cement North Philippines Cluster Director Adrian Payumo and Bulacan Plant Manager Warlito Jacque turned over 200 sacks of rice to Norzagaray LGU Executive Assistant Nerry Ignacio and Personal Assistant to the Mayor Dennis Arceo. COURTESY OF REPUBLIC CEMENT THE private sector continues to extend help to communities and frontliners fighting the coronavirus disease 2019 (COVID-19). The Villar Group is working with EEI Corp. and the Department of Public Works and Highways, headed by Secretary…

"Companies continue to help communities, frontliners amid pandemic"

IMI halts Mexico operations due to COVID

Ayala-led Integrated Micro-Electronics, Inc. (IMI) is suspending its operations in Mexico until the end of the month due to the implementation of emergency measures against the coronavirus disease 2019 (COVID-19). The electronics manufacturer told the stock exchange yesterday IMI Mexico will close facilities until April 30 while a skeletal workforce supports critical business activities. IMI Mexico contributes about 13% to the company’s global revenues. In 2019, its revenues stood at $160.2 million, 50% higher year…

"IMI halts Mexico operations due to COVID"

SEC warns of more scams amid coronavirus crisis

By Denise A. Valdez, Reporter THE Securities and Exchange Commission (SEC) is warning the public against investing in groups looking to take advantage of the coronavirus disease 2019 (COVID-19) crisis. In a statement yesterday, the SEC said there are at least 14 groups that have been flagged for trying to lure the public into unauthorized investment activities since the coronavirus outbreak started last month. These include MAGINVESTKA.ONLINE (MIK.O), Azenzo-Online, and President: Rodrigo Duterte Charity Foundation,…

"SEC warns of more scams amid coronavirus crisis"

Gov’t, Phoenix in free bus service

THE GOVERNMENT is subsidizing bus companies involved in its free bus service program for medical workers battling the coronavirus disease 2019 (COVID-19) pandemic, the Department of Transportation (DoTr) said. In a statement on Thursday, the DoTr said it has partnered with Phoenix Petroleum Philippines, Inc. to carry out the fuel subsidy program “to sustain the continuous operation” of the program for healthcare frontliners during the Luzon-wide quarantine period. The department said 60 private bus companies…

"Gov’t, Phoenix in free bus service"

AboitizPower drops Vietnam wind farm

ABOITIZ POWER Corp. reported that its unit terminated the deal to fully acquire a wind power company in Vietnam. In a stock exchange disclosure on Thursday, the power firm said its wholly owned subsidiary AboitizPower International Pte. Ltd. broke off from the transaction to acquire a 100% interest of Armstrong Southeast Asia Clean Energy Fund Pte. Ltd. in Mekong Wind Pte. Ltd. The deal termination was “due to a condition precedent being unmet by the…

"AboitizPower drops Vietnam wind farm"

Leechiu sees office sector recovery

PHILSTAR/MICHAEL VARCAS By Denise A. Valdez, Reporter DEMAND for office space in the Philippines is expected to start recovering by the second quarter of the year, and transactions are projected to reach 800,000 to 1 million square meters (sq. m.) by the end of 2020. In an online media briefing yesterday, real estate consultancy firm Leechiu Property Consultants (LPC) said the office sector will remain the primary driver of real estate this year, and growth…

"Leechiu sees office sector recovery"

DFNN incorporates acquisition unit

GAMING COMPANY DFNN, Inc. is incorporating a new subsidiary that will function as a holding firm for future acquisitions. In a disclosure to the stock exchange yesterday, the listed firm said its board of directors had approved forming a company with an authorized capital stock of P100 million and a subscription of P25 million. The stocks of the subsidiary will be fully subscribed by DFNN. “The incorporation of this wholly-owned subsidiary is intended to be…

"DFNN incorporates acquisition unit"

MMC pilots phone ‘tele-consultation’ service

WWW.FACEBOOK.COM THE MAKATI Medical Center (MMC) is piloting a mobile phone and video-based “tele-consultation” system that would allow its doctors to provide healthcare consultations during the community quarantine period. The initiative is in partnership with digital payments firm PayMaya Philippines, Inc. “Once the consultation is over, patients will receive an SMS from their doctor which will contain details on how they can pay for the consultation fee via their PayMaya account. Aside from this, each…

"MMC pilots phone ‘tele-consultation’ service"

ACEPH to issue shares to parent

AC ENERGY Philippines, Inc. (ACEPH) is injecting P16.69-billion primary shares to its parent company, which will own 85% of the former, in part of their deal to merge both of the Ayala-led energy unit’s local and overseas renewables entities. The Philippine-listed company told the stock exchange on Wednesday that it has approved the issuance of its shares equal to P2.97 each to AC Energy, Inc., in exchange for the latter’s full stake in Presage Corp.,…

"ACEPH to issue shares to parent"